Memecoins Signal Advent of Emerging Bull Market, Theorizes LBank Co-Founder

2 mins
6 February 2023, 15:07 GMT+0000
Updated by Petar Jovanovic
6 February 2023, 15:07 GMT+0000

A new generation of mainstream altcoins is emerging and making big waves on the crypto markets. The surge of these tokens might signal the dawn of a new bull market, hypothesizes LBank Co-Founder Johnason Chan.

Driving the news: The recent rally of digital assets like Aptos (APT), Floki (FLOKI) and Highstreet (HIGH) are raising eyebrows.

  • The price of APT, the native token of layer 1 proof-of-stake blockchain Aptos, saw an increase of more than 380 percent in the last 30 days, according to CoinGecko.
  • Dogecoin spin-off FLOKI saw its price jump up by more than 200 percent in the same timespan. Meanwhile, metaverse gaming coin HIGH noted an eye-popping 336 percent rally in the last month.
  • “As a global launch pad for novel cryptocurrencies and blockchain projects, we are in a unique position to observe the latest developments on the frontiers of crypto,” Chan explains. “We listed Highstreet a few months before major competitors and took note of its tremendous performance. The wealth creation stemming from these tokens are signaling a bullish sentiment on the markets.”

Go deeper: The end of 2023 could become the sweet spot for the next bull market.

  • “Following the hints of Fed chair Jerome Powell on possible ‘disinflation’, the interest rate hike cycle seems to pivot in favor of the markets. Some corners of the crypto markets might see even more investment going into Q2,” Chan suggests.
  • The Co-Founder of global exchange LBank sees a potential bull market emerging towards the fourth quarter of 2023. “And let’s not forget the next Bitcoin halving is coming up in around 400 days”, he adds.
  • For now, all eyes are on the emerging stars of the altcoin market, propelling optimism among investors. “FLOKI was one of our star listings last year, and is continuing to reflect the way traders behave,” Chan concludes.


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